business law case study 656544

Both sales from Totz and Doodlez are more than ten percent of the sum of the items, which means they must be separately stated on the income statement. My team and I discussed compiling a comparative income statement for the different years of information provided to us. This would be useful to be able to compare revenues from 2014, 2015, and 2016; however, Doodlez was only introduced in the third quarter of 2015. Therefore, to properly disclose the 13 dramatic change in Doodlez's revenue from 2015 to 2016 (an increase of $7.3 million), explanatory notes to the financial statements would be necessary. 2. Gross Profit Gross profit is its own line item on the income statement. However, it is not actually a "section" of the income statement, but it is an important part of the financial statement. According to the codification ASC 360-20-55-14, "gross profit is presented as a separate item of revenue on the income statement when it is recognized as earned." Gross profit is equal to net sales less cost of sales, which needs to be broken down into cost of tangible goods sold and cost of services and are stated separately according to the FASB codification. ASC 225-10-S99-2 (2) states, "2. Costs and expenses applicable to sales and revenues. State separately the amount of (a) cost of tangible goods sold, (b) operating expenses of public utilities or others, (c) expenses applicable to rental income, (d) cost of services, and (e) expenses applicable to other revenues. Merchandising organizations, both wholesale and retail, may include occupancy and buying costs under caption 2(a). Amounts of costs and expenses incurred from transactions with related parties shall be disclosed as required under 210.4-08(k)." This says that both cost of goods sold and cost of services must be recognized as two different line items under the sales section of the income 14 statement. Additionally, we are told that depreciation is excluded from cost of sales. Under ASC225-10-S99-8, the company cannot report a subtotal that excludes depreciation. Therefore, Totz should not report a gross profit subtotal because the excluded depreciation is attributable to cost of sales. ASC 225-20- S99-8, or SAB Topic 11, states the following: "The following is the text of SAB Topic 11.B, Depreciation and Depletion Excluded from Cost of Sales. Facts: Company B excludes depreciation and depletion from cost of sales in its income statement. Question: How should this exclusion be disclosed?

88. Which of the following statements about working in the financial-services industry is false:

89. As an employee of a _____ firm, Elise helps her clients reduce their debt, build their____, and save for their retirement. Which certification is Elise mostly likely to need to perform her job:

90. Which of the following is a ______ sought by individuals who _____ companies and industries and make buy, sell, and hold recommendations for certain securities:

of retinal vessels on ophthalmoscopy, what do they look like and which of them signifies atherosclerosis? Question 19 What is the mechanism of papilloedema? Is it that the intracranial pressure exceeds the pressure of the central retinal vein? 20

Question 1

Please what is (are) the likely cause(s) of sudden sharp but brief pain

(resembling pin prick) in the right lower abdomen?

Question 2

What are the causes of foot drop, and what is the likely treatment?

Question 3

What is the correct definition for dysaesthesia?

Question 4

What is the difference between 'light touch' and 'fine touch' sensations

passed in the posterior column, and which one of these is tested with a

wisp of cotton?

Question 5

What is apraxia of gait and what is Brun's apraxia?

Question 6

Why is it that, when eliciting the plantar reflex, we are supposed to stop

just before the ball of the great toe?

Question 7

Is there any rationale for giving dopamine agonists to aphasic

patients?

Question 8

Have either carbamazepine or dopamine agonists a role in the treatment

of aphasia? If yes, what type of aphasia? 221

21 Neurological disease

222

Question 9

Is bilateral VIth cranial nerve palsy always a false-localizing sign

(i.e. does it indicate an increased intracranial pressure and not pathology

of the nerves or their nuclei)?

Question 10

Can an optic tract lesion, which is mononuclear field loss (i.e. loss

of vision in one eye) also be called 'incongruous homonymous

hemianopia'?

Question 11

How would you treat optic neuritis?

Question 12

After two episodes of optic neuritis, one affecting each eye and 2 months

apart, confirmed to be demyelinating in nature by visual evoked

potentials, could a diagnosis of multiple sclerosis be reached in the

absence of periventricular lesions on the MRI?